J. Goldman & Co LP Takes Position in Global Industrial Company $GIC

Key Points

• J. Goldman & Co. LP initiated a position in Global Industrial by purchasing 61,485 shares worth approximately $2.06 million, representing about 0.16% of the company. Institutional investors collectively own 31.19% of the stock.
• Analyst sentiment improved, with Weiss Ratings upgrading the stock to “buy” and Wall Street Zen raising its view to “strong-buy.” Global Industrial has a “Moderate Buy” consensus rating.
• Global Industrial reported quarterly EPS of $0.54, in line with estimates, while revenue of $386.6 million exceeded expectations. The company also maintains a quarterly dividend of $0.28, or $1.12 annually, yielding about 2.8%.

J. Goldman & Co LP bought a new stake in Global Industrial Company (NYSE:GIC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 61,485 shares of the company's stock, valued at approximately $2,057,000. J. Goldman & Co LP owned approximately 0.16% of Global Industrial at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its stake in Global Industrial by 0.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,392 shares of the company's stock valued at $1,732,000 after acquiring an additional 323 shares during the last quarter. Swiss National Bank increased its stake in shares of Global Industrial by 1.9% during the 4th quarter. Swiss National Bank now owns 37,800 shares of the company's stock worth $1,105,000 after purchasing an additional 700 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Global Industrial by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,146 shares of the company's stock worth $706,000 after purchasing an additional 1,038 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Global Industrial by 16.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company's stock valued at $215,000 after purchasing an additional 1,120 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Global Industrial by 2.3% in the 2nd quarter. Bank of America Corp DE now owns 51,366 shares of the company's stock valued at $1,387,000 after purchasing an additional 1,137 shares during the period. 31.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings upgraded Global Industrial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Wall Street Zen upgraded Global Industrial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Global Industrial Price Performance

GIC stock opened at $39.58 on Wednesday. The company has a fifty day moving average price of $35.62 and a two-hundred day moving average price of $32.97. Global Industrial Company has a one year low of $26.40 and a one year high of $40.71. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75.

Global Industrial (NYSE:GIC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $386.60 million for the quarter, compared to the consensus estimate of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. Research analysts anticipate that Global Industrial Company will post 1.87 EPS for the current fiscal year.

Global Industrial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were paid a $0.28 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.8%. Global Industrial's dividend payout ratio is 50.00%.

Insiders Place Their Bets

In other Global Industrial news, VP Thomas Axmacher sold 1,848 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $38.60, for a total value of $71,332.80. Following the transaction, the vice president directly owned 7,366 shares of the company's stock, valued at $284,327.60. This represents a 20.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 64.51% of the stock is currently owned by corporate insiders.

About Global Industrial

Global Industrial Company NYSE: GIC is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company's product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.

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